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If you are looking at Universities in, and around London, it is a good idea to get clued up on exactly how much it will cost you, whether you are entitled to London weighting on your Student Loan, and how much that means you have to pay back.

If you meet the criteria below, the good news is, your maintenance loan will be slightly higher. For 2019/20, students in London could get up to £11,672 in maintenance loan, compared to £8,944 outside the capital. Additionally, if you are eligible for a maintenance grant you could be entitled to as much as £9,445 for living costs, compared to a maximum £7,249 for those studying outside of London.

But, before you get excited by the extra cash, just remember, London weighting is awarded for a reason; due to the higher costs associated with living in the city. Therefore make sure you are considering all the factors and the real cost of living; travel, accommodation, food and going out. This way, you can realistically weigh up your options and it may help make the decision easier (that is not a promise).

“A student will quality for the London rate of maintenance loan if they:

Live away from their parents; and

Attend one or more of the following:

A course at the University of London

An institution which requires attendance at a site wholly or partly within the area comprising the City of London and the former Metropolitan Police District; or

A placement as part of a sandwich course at a site or sites wholly or partly within the area comprising the City of London and the former Metropolitan Police District.

And to further clarify, “former Metropolitan Police District” means:

(a) Greater London, excluding the City of London, the Inner Temple and the Middle Temple;

(b) in the county of Essex, in the district of Epping Forest — the area of the former urban district of Chigwell, the parish of Waltham Abbey;

(c) in the county of Hertfordshire — in the borough of Broxbourne, the area of the former urban district of Cheshunt, the district of Hertsmere, in the district of Welwyn Hatfield, the parish of Northaw; and

(d) in the county of Surrey — in the borough of Elmbridge, the area of the former urban district of Esher, the boroughs of Epsom and Ewell and Spelthorne, in the district of Reigate and Banstead, the area of the former urban district of Banstead;”

Being assigned the London rate of maintenance loan should all be done automatically when apply through Student Finance in England, but it is still good to have a solid idea of what this means for your personal finances and how you will manage your money while studying.

Also, it’s important to remember, this only applies to students from England, different rules affect students from Wales and Scotland.